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Royal Bank of Canada upgraded to Market Perform at Keefe Bruyette
The Fly

Royal Bank of Canada upgraded to Market Perform at Keefe Bruyette

Keefe Bruyette analyst Mike Rizvanovic upgraded Royal Bank of Canada to Market Perform from Underperform with a price target of C$138, up from C$129. Royal Bank’s proposed acquisition of HSBC Canada provides the bank with a "solid growth opportunity that sets it apart from some of its peers," Rizvanovic tells investors in a research note. The analyst also likes the bank’s "favorable margin guidance" heading into 2023.

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